Finance Explained

If you’ve already found the Hyundai you want and are now looking for finance, it’s important to choose the type that’s right for you. Hyundai Finance offers you a range of options which can be personalised to suit the way you want to pay

Personal Contract Purchase (PCP)

PCP

Personal Contract Purchase or PCP, is a flexible and popular plan that provides you with the option to change your car on a regular basis

How does it work?

At the start of the agreement we’ll set an optional final payment for your car, this will be based upon your chosen agreement term and approximate annual mileage

You pay a deposit and then make monthly repayments based on the outstanding loan balance less the optional final payment

At the end of the monthly repayment period you’ll have three options: SEE BELOW

1

RETAIN:

Pay the optional final payment and take ownership of the car.

2

RETURN:

Hand back the car with nothing to pay.

(subject to mileage and fair wear and tear)

3

RENEW:

Part exchange the car and use any equity as a deposit on your next car

(if any available, which cannot be guaranteed)

See more

What else do I need to Know?

Typical repayment periods are over 25 or 37 months

The optional final payment is based on your repayment period and mileage. This can be set from 6,000 to 30,000 miles per annum

The car can be up to 47 months old and 50,000 miles at the start of the agreement and must not exceed 84 months/ 100,000 miles at the end of the agreement

A maximum of 50% deposit is allowed and the minimum loan amount is £3,000

You will not own the vehicle until all monthly repayments are made, including the optional final payment.

1

RETAIN:

Pay the optional final payment and take ownership of the car.

2

RETURN:

Hand back the car with nothing to pay.

(subject to mileage and fair wear and tear)

3

RENEW:

Part exchange the car and use any equity as a deposit on your next car

More on PCP

Watch a short video explaining how Personal Contract Purchase works:

We may choose to offer you an alternative product as part of our underwriting conditions which may include a Fixed Sum Loan with OFP. Your dealer will make you aware of this after your application for finance has been received and assessed by us.

More on Conditional Sale

Watch a short video explaining how Conditional Sale works:

We may choose to offer you an alternative product as part of our underwriting conditions which may include a Fixed Sum Loan. Your dealer will make you aware of this after your application for finance has been received and assessed by us.

Personal Contract Hire

PCH

Personal Contract Hire, or PCH is a funding product where you lease your vehicle for a fixed period and mileage, in return for a monthly rental. At the end of the contract you simply return the vehicle, without further cost, providing that the vehicle has not exceeded the agreed mileage and that its condition is reflective of its age and mileage.

How does it work?

You pay an initial upfront advance rental (amount dependent on size of monthly rental) usually the equivalent to three, six or nine monthly rentals.

You then pay a fixed monthly rental fee (plus VAT) and in return have the right to use your chosen vehicle over a pre-agreed period and mileage.

At the end of this period you are not responsible for the disposal, the vehicle is simply handed back. There is no option to own the vehicle at the end of the agreement

See more

What else do I need to know?

All agreements include road fund licence, full manufacturers warranty and the manufacturers comprehensive breakdown cover.

PCH contracts are normally 24, 36 or 48 months in duration.

Both excess mileage and vehicle condition charges may apply.

Maintenance of the vehicle can be included in your monthly rental as an added option.